I suppose this might be similar to a stock bankruptcy / delisting situation, in which the stock is no longer tradable on
an exchange by the expiration date of the option.
Not exact matches
For the first day of trading in a newly listed contract
expiration month, there will be an implied previous business day's settlement price, created
by the
Exchange for the sole purpose of establishing price limits.
At the
expiration of a security futures contract that is settled through physical delivery, a person who is long the contract must pay the final settlement price set
by the regulated
exchange or the clearing organization and take delivery of the underlying shares.
Please keep in mind that the
expiration day is set
by the listing
exchange and may deviate from these norms.
The
expiration of a security futures contract is established
by the
exchange on which the contract is listed.
Because a whale might have unfathomable amounts of money and the belief that their contract will expire at a value less than the price they purchased the contract for, it would not be surprising if the whales pumped up Bitcoin price in the days leading up to the contract
expiration date
by buying more Bitcoin, and then sell off a large chunk of it on an
exchange at the inflated price — hours before their contract expires.